Christopher Simpson

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BVI FSC Extends Annual Licence Fee Payment Deadline for Certain Licensees

An important notice came from the British Virgin Islands Financial Services Commission (the Commission) on March 23, 2020. The Commission acknowledged the possible business disruptions that the global pandemic COVID-19 may present for certain licensees in complying with the upcoming…

The Substantive Issue of Economic Substance: A BVI perspective

By Christopher Simpson, O’Neal Webster The issue of economic substance is not a new one. More and more, modern companies coupled with new technology and trading practices challenge the notion of “economic substance” for value creation in the traditional sense…

BVI Companies and their Registered Agents: A critical relationship

A sometimes overlooked, yet critical, aspect of a British Virgin Islands (BVI) company is the role of its registered agent. Only a registered agent can incorporate a BVI company, and they are essential in its ongoing maintenance. Registered agents are…

British Virgin Islands’ New Limited Partnership Act Offers Significant Changes

Best-known for its stunning natural beauty—jewel-colored waters, soft sandy beaches, and lush mountain ridges—the British Virgin Islands also excels among her peers in the international financial services industry. Notably, the Territory is relentless in its pursuit of refining and advancing…

RIP: Winding up a BVI Company Through Voluntary Liquidation

“All good things must come to an end.” – Well-known saying by Geoffrey Chaucer (1374). Why Choose Voluntary Liquidation BVI companies are commonly incorporated without a specific termination period. However, once they have served their useful business purpose their owners…

BVI’s Updated Beneficial Ownership Reporting Regime Takes Effect

The British Virgin Islands will implement its new beneficial ownership reporting regime on July 1, 2017, by virtue of the recently passed Beneficial Ownership Secure Search System Act, 2017, (BOSSs), which comes into force on June 30, 2017. The Act…
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